BUZZ-Lam Research gains as brokerages raise PT on memory chips upgrade opportunity

Updates

Chipmaking tools supplier Lam Research's LRCX.O shares rise 4.2% to $91.35

At least six brokerages raise PT; Susquehanna makes the most bullish call by raising PT to $125 from $75, an upside of ~43% to stock's last close

Susquehanna upgrades rating to "positive" from "neutral"

Analysts say Lam is well positioned to benefit from a potential upgrade cycle for NAND, a type of non-volatile memory chip used in SSDs, smartphones, and data centers

LRCX to benefit as the semiconductor industry moves to NAND chips with more than 200 layers, which require advanced etching and deposition tools to enable efficient chip manufacturing - Susquehanna

Bernstein says Lam's CY2028 revenue forecast of $25 billion to $28 billion and adjusted EPS outlook of $6 to $7 appear very reasonable and achievable

Average rating of 30 brokerages covering the stock is "buy", their median PT is $95 - LSEG

Up to last close, stock down ~5% in the past 12 months